COLLEGE TUITION SAVINGS PLAN
Governor's Scholarship Program and Fund
I. All scholarship funds shall be distributed to the eligible student by the eligible institution. The institution shall include the scholarship in the student's financial aid package and may seek subsequent reimbursement. The state shall provide the reimbursements twice per year to each eligible institution for the number of eligible students enrolled in the current semester or term who are receiving a scholarship. The institution shall submit the list of scholarship recipients to the commission or its designee no later than November 30 and April 30 of each academic year, and shall be reimbursed within 30 days of submission.
II. An eligible student may receive a scholarship in the amount of $1,000 per year provided he or she maintains at least a 2.0 grade point average. An eligible student who earned the New Hampshire scholar designation at the time of high school graduation may receive a scholarship in the amount of $2,000 per year provided he or she maintains at least a 2.5 grade point average. The eligible institution shall not reduce any merit or need-based grant aid that would have otherwise been provided to the eligible student. An eligible student may receive an annual scholarship for a maximum of 4 years.
III. In the event the state does not reimburse the eligible institution for scholarship amounts paid to an eligible student receiving an award, the eligible institution shall agree not to seek additional payments from the eligible student and to absorb the loss of funds without any consequence to the eligible student.
IV. The commission shall adopt rules, pursuant to RSA 541-A, relative to awarding and disbursing scholarship funds to an eligible student enrolled in an eligible institution.
V. An eligible student, who initially attends a community college and transfers directly to an eligible institution, without a break in attendance, shall remain an eligible student for a maximum of 4 years of total eligibility.
VI. The commission may hire staff or enter into a contract for services or personnel necessary to administer the program.
Source. 2021, 91:163, eff. July 1, 2021.